Everyone’s betting on a rate rise – but that might be a big mistake

The signals could not be clearer. The governor of the Bank of England, Mark Carney, has dropped some heavy hints that interest rates will see their first rise in seven years some time in the autumn.

Members of the Monetary Policy Committee, both past and present, have been lining up to tell us that rates will have to go up imminently.

Policymakers are able to say this because the economic climate is improving. Growth is decent. Unemployment is falling rapidly. House prices are booming. New jobs, and new businesses, are being created. The deficit is coming down. Business confidence is [...]

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